How to find and keep people in a competitive job market



Never before has the human resources job market been so tight. Low unemployment and record-high job ad are creating an abundance of opportunities. It’s become increasingly hard not only find good people to join your team, but also to keep them.

Those considering a career move, won’t just settle for any old job. They want a role that they will enjoy, whilst achieving great things for themselves and the company. A streamlined hiring process, meaningful work and compelling EVP are essential. Read on to learn more.

Leadership

Direct leaders

• Employees are looking for modern leaders, who have adapted to new ways of working.
• People seek a high degree of care and trust from their leaders.
• They desire a manager who works for the team, not be part of a team that works for a manager.

TIP: Invest in development of middle management and give concrete examples of teams empowered by leaders during the hiring process.

Board & C-suite

• Communication is paramount. Employees want c-suite to be authentic and share the vision.
• People are attracted to organisations where values are spoken about and clearly demonstrated.
• People want to feel like they are contributing to a greater purpose.
• Diversity, gender equality, ESG principals, ‘giving back’ and other purpose-led causes must be genuine (not just lip service) and carry through to all parts of the business.

TIP: Remember to communicate the ‘why’ behind strategic direction and highlight how individuals contribute to overall strategy and purpose.

Recruitment process

• Treat your candidates like they are your most valuable customers. You must ‘sell’ the role more than ever before. Build strong engagement at all stages of the process.
• Advertise for competencies (not years of experience) and cultural fit.
• The interview processes have changed. It’s now seen as a two-way street, with both parties interviewing each other.
• Many jobseekers are looking for ‘chemistry’ early in the interview process. Engage them from the first interview. Talk about values, big-picture strategy and how the role your recruiting for feeds into a higher purpose.
• Have two people present at a second interview. Consider advance questions or a simple task, which can help you take a deep dive into capability.
• Third interviews are usually with a senior leader and team member. Have clear criteria for each person to measure.
• We are seeing high drop-out rates during the recruitment process. Candidates feel insulted by long, convoluted processes. The more streamlined your approach, the more successful you’re likely to be.
• Organisations are using strengths profiling to be able to hit the ground running with new hires and for development opportunities.

TIP: Condense your hiring process. Panels can sometimes be used to shorten & deepen the interview process. Ensure middle management are driving enthusiasm, and that EVP comes through naturally in hiring conversations.

Flexibility

• Flexible work is the expected norm.
• Be flexible and about flexible work. One size does not fit all.
• Leaders must consciously and publicly follow new norms themselves.
• Teams are co-design different approaches to flexibility, to ensure models are fit for purpose.
• Hybrid work, flexible start/finish times, 4-day weeks, job shares, additional leave (parental, carers, mental health, school holiday) are just some of the solutions being considered by organisations.

TIP: Train and support managers about how they can unlock the potential of flexibility.

Salary

• Salaries have accelerated in recent years, but are now plateauing. Those in the job market may have expectations that are higher than your benchmarks.
• Your salary offering must be competitive. Remember that people’s perceptions can differ from reality and must be carefully managed. Transparency can help.
• Changing economic conditions will likely introduce financial stress into salary conversations in 2023.
• A step-up salary requires step-up duties. Have conversations around expectations.

TIP: Ensure your salary benchmarking is current and consider hiring for potential to broaden your talent pool.

Career progression

• Broaden your talent pool by hiring for potential and investing in development opportunities.
• People want around what’s coming next. Speed of progression has become increasingly important.
• Clear progression pathways are now more important than ever.

How we can help?

Would you like help building your team, developing your own capability or being connected to new career opportunities? Get in touch and one of our team will be pleased to help.